FNGU vs. FNGLX

Last updated Jun 4, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and FNGLX (Fidelity Advisor Freedom 2060 Fund Class Z6) are both funds - FNGU is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return) (300%), while FNGLX is a Target Retirement Date fund managed by Fidelity. Over the past year, FNGU returned 64.67% vs 28.92% for FNGLX. A 0.72 correlation means they provide meaningful diversification when combined. FNGU charges 2.60%/yr vs 0.50%/yr for FNGLX.

Performance

FNGU vs. FNGLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGU achieves a 36.18% return, which is significantly higher than FNGLX's 12.77% return.

FNGU

• 1D: -3.75%
• 1M: 33.96%
• YTD: 36.18%
• 6M: 16.22%
• 1Y: 64.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGLX

• 1D: 0.58%
• 1M: 4.84%
• YTD: 12.77%
• 6M: 14.49%
• 1Y: 28.92%
• 3Y*: 20.25%
• 5Y*: 10.14%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FNGU vs. FNGLX - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	36.18%	4.24%
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	12.77%	16.60%

Correlation

The correlation between FNGU and FNGLX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.72

The correlation between FNGU and FNGLX has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.

Return for Risk

FNGU vs. FNGLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNGU

FNGU Risk / Return Rank: 27
FNGU Sharpe Ratio Rank: 30
FNGU Sortino Ratio Rank: 31
FNGU Omega Ratio Rank: 30
FNGU Calmar Ratio Rank: 23
FNGU Martin Ratio Rank: 21

FNGLX

FNGLX Risk / Return Rank: 61
FNGLX Sharpe Ratio Rank: 62
FNGLX Sortino Ratio Rank: 58
FNGLX Omega Ratio Rank: 60
FNGLX Calmar Ratio Rank: 60
FNGLX Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FNGU vs. FNGLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FNGU	FNGLX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.32	-1.18
Sortino ratio: Return per unit of downside risk	1.69	3.20	-1.51
Omega ratio: Gain probability vs. loss probability	1.21	1.43	-0.22
Calmar ratio: Return relative to maximum drawdown	1.09	2.98	-1.89
Martin ratio: Return relative to average drawdown	2.64	13.13	-10.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGU vs. FNGLX - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 1.13, which is lower than the FNGLX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of FNGU and FNGLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNGU	FNGLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	2.32	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.73	-0.33

Drawdowns

FNGU vs. FNGLX - Drawdown Comparison

The maximum FNGU drawdown since its inception was -60.84%, which is greater than FNGLX's maximum drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for FNGU and FNGLX.

Drawdown Indicators

	FNGU	FNGLX	Difference
Max Drawdown Largest peak-to-trough decline	-60.84%	-31.22%	-29.62%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-9.90%	-49.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.15%	—
Current Drawdown Current decline from peak	-4.84%	0.00%	-4.84%
Average Drawdown Average peak-to-trough decline	-22.06%	-5.46%	-16.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.57%	2.23%	+22.34%

Volatility

FNGU vs. FNGLX - Volatility Comparison

MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a higher volatility of 16.40% compared to Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) at 4.32%. This indicates that FNGU's price experiences larger fluctuations and is considered to be riskier than FNGLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGU	FNGLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	4.32%	+12.08%
Volatility (6M) Calculated over the trailing 6-month period	44.77%	10.56%	+34.21%
Volatility (1Y) Calculated over the trailing 1-year period	57.50%	12.73%	+44.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.60%	14.98%	+63.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.60%	16.06%	+62.54%

FNGU vs. FNGLX - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than FNGLX's 0.50% expense ratio.

Dividends

FNGU vs. FNGLX - Dividend Comparison

FNGU has not paid dividends to shareholders, while FNGLX's dividend yield for the trailing twelve months is around 6.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	6.07%	4.94%	2.04%	2.36%	10.48%	8.88%	4.70%	6.51%	8.88%	1.06%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGU and FNGLX in my portfolio?

FNGU and FNGLX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGU or FNGLX?

FNGU has higher volatility (16.40%) compared to FNGLX (4.32%). In terms of maximum drawdown, FNGU dropped -60.84% vs FNGLX's -31.22%.

Which has better risk-adjusted returns?

FNGLX currently has the higher Sharpe Ratio (2.32 vs 1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.